A stark reminder from Honda

While speculation over the future of Honda reaches fever pitch, the Japanese manufacturer has today issued a stark reminder.

"It's true that we are pursuing several potential buyers," said Honda spokesman Hiroyuki Murase. "But the team may still have to be disbanded if the negotiations fail."

Other than a management buy-out, the only other deal that appears to be on the table is that of Richard Branson's Virgin Media, though the company has yet to confirm its interest in the Brackley-based team.

Sources at Brackley inform Pitpass that Honda F1 Team CEO Nick Fry is "not happy and not receptive at the thought of being gazumped".

While there is talk that a deal has to be done by February 23 - ironically, the day before USF1 announces its plans - the official deadline is March 3 after which time the doors at Brackley would be closed for good.